This invention relates to the field of tokenless biometric financial and rewards transactions. Specifically, this invention is directed towards a system and method of producing an audio wave or sound to inform a system user of the identity of the party that has processed an electronic transaction for the user.
The use of a token, an inanimate object which confers a capability to the buyer presenting it, is pervasive in today's electronic financial or consumer rewards systems. Whether a consumer is buying groceries with a debit card, shopping in a department store with a credit card or earning free frequent flyer miles over the internet, at the heart of that transaction is an electronic transfer of funds or benefits enabled by a token, which acts to identify both the consumer as well as the financial account being accessed.
Traditionally, a person must possess a man-made personalized token to gain access or authorization for an electronic financial or rewards transaction. Tokens such as magnetic ink encoded paper checks, smart cards, magnetic swipe cards, identification cards or even a personal computer programmed with resident user-specific account data, are “personalized” because they are each programmed or encoded with data that is unique and personalized to the authorized user. For example: at a retail point of sale, the user directly possesses and physically presents personalized credit, debit or rewards cards imprinted with text and graphics identifying the merchant or the transaction processor entity institution, along with having a magnetic stripe encoded with his unique account data to the merchant; or, over the internet, the user directly possesses and electronically presents his personal computer's resident user-unique account data to the remote merchant, while the computer's screen presents text or graphical displays identifying the merchant or transaction processor entity institution. By contrast, as the disclosed invention is completely tokenless, the user does not directly possess, carry or remember any personalized token that can be lost, stolen or damaged.
Therefore, the key function of such tokens is to identify both the user and the financial account being accessed to pay for the transaction, while textually or graphically notifying to the consumer which merchant or banking account they are accessing. While the biometric component of a tokenless transaction accomplishes the former, this invention creates a solution for tokenless transaction to also accomplishing the latter. Specifically, since there is no card or physical object on which to imprint the name or the graphical logo of the transaction processor entity institution, this invention uses an audio signature to identify the authentic transaction processor to the user.
Various token-based biometric technologies have been suggested which use smart cards, magnetic swipe cards, or paper checks in conjunction with fingerprints, hand prints, voice prints, retinal images, facial scans or handwriting samples. These biometrics are generally either: a) stored in electronic and reproducible form on the token itself and the verification process is not isolated from the hardware and software directly used by the user attempting access, or; b) used in tandem with the user directly using magnetic swipe cards, paper checks or a PC with the user's financial data stored resident therein. Examples are described in U.S. Pat. No. 4,821,118 to Lafreniere; U.S. Pat. No. 4,993,068 to Piosenka et al.; U.S. Pat. No. 4,995,086 to Lilley et al.; U.S. Pat. No. 5,054,089 to Uchida et al.; U.S. Pat. No. 5,095,194 to Barbanell; U.S. Pat. No. 5,109,427 to Yang; U.S. Pat. No. 5,109,428 to Igaki et al.; U.S. Pat. No. 5,144,680 to Kobayashi et al.; U.S. Pat. No 5,146,102 to Higuchi et al.; U.S. Pat. No. 5,180,901 to Hiramatsu; U.S. Pat. No. 5,210,588 to Lee; 5,210,797 to Usui et al.; U.S. Pat. No. 5,222,152 to Fishbine et al.; U.S. Pat. No. 5,230,025 to Fishbine et al.; U.S. Pat. No. 5,241,606 to Horie; U.S. Pat. No. 5,265,162 to Bush et al.; U.S. Pat. No. 5,321,242 Heath, Jr.; U.S. Pat. No. 5,325,442 to Knapp; U.S. Pat. No. 5,351,303 Willmore.
A tokenless biometric identification system requires no cards or tokens, which present the identity of the transaction processor. Furthermore, various transaction processors from different entities may conduct various phases of an electronic transactions, therefore, there is a need for an electronic financial and rewards transaction system that provides an audio signature associated with the transaction processor to notify and authenticate to the user the identity of the party that has processed the user's transaction, while not requiring the user to present any personalized man-made memory tokens such as smart cards, magnetic swipe cards, encoded paper checks or personal computers for identification.